Today in an article from Realtor Magazine I read that the National Association of Hispanic Real Estate Professionals (NAHREP), the Asian Real Estate Association of America (AREAA), and the National Association of Real Estate Brokers (NAREB) believe that tougher/stricter lending standards are having an effect on Minorities and low income families.

The new rules have made it more difficult for minorities and low income families to obtain financing and/or to refinance. Higher LTV's (loan to value) ratios and higher mortgage costs have made it more difficult for for people who want to buy a home in today's market.

Across the board this is having an impact on markets throughout the country. Whether it is in California, Nevada, Florida, or Arizona. Even states that are doing better than others are still affected by the new lending guidelines. Lenders should not be giving out loans to just anyone. However, I believe that some exceptions can and should be made to help alleviate some of the stress off of our Industry.

Home sellers would have more potential buyers looking at their homes, Lenders would have more people qualifying, Markets could begin to improve if they loosen their standards a bit for qualified buyers. I know there is no perfect solution for this debacle we are in, but i do believe that with a little help from Lenders/Banks the industry could be back on its feet sooner.